07.04.2015 - Saudi Arabia has increased oil prices
The price of gold yesterday showed growth after a weekend during which was published statistics on the US labor market, which disappointed investors. As a result, analysts expect a rise in interest rates in September are more likely than in June. Weak statistics on service PMI in the United States, which totaled 56.5, that is 0.1 worse than expected, supported rise in the price of gold. It is worth noting that the growth of gold was shifted to fall on the background of technical factors and the strengthening of the US dollar. Our medium-term outlook for gold remains positive, but in the near future the price may go back to the psychologically important level of $ 1,200 per troy ounce.
The price of Light Sweet crude oil showed an increase during yesterday's trading session, amid a number of factors. Thus, Saudi Arabia has raised prices for consumers in Asia, at the same time, analysts estimate the possibility of growth of oil exports from Iran, as well as monitoring the situation in Yemen, where Shiite forces are moving forward. Traders are waiting for statistics on oil and petroleum products in the US and are expected to reduce the rate of growth against the background of the decline in production last week. We maintain our medium-term negative outlook on oil, to $ 40 per barrel and recommend holding short positions.